Lannett Company, Inc. (LCI) Major Shareholder Sells $294,970.80 in Stock

Lannett Company, Inc. (NYSE:LCI) major shareholder David Farber sold 9,816 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $30.05, for a total transaction of $294,970.80. Following the completion of the transaction, the insider now owns 4,190,169 shares of the company’s stock, valued at approximately $125,914,578.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

David Farber also recently made the following trade(s):

  • On Friday, December 1st, David Farber sold 10,000 shares of Lannett stock. The shares were sold at an average price of $26.88, for a total transaction of $268,800.00.
  • On Wednesday, November 8th, David Farber sold 10,000 shares of Lannett stock. The shares were sold at an average price of $25.03, for a total transaction of $250,300.00.

Shares of Lannett Company, Inc. (NYSE LCI) traded up $0.70 on Wednesday, hitting $29.25. 705,800 shares of the stock traded hands, compared to its average volume of 800,584. Lannett Company, Inc. has a twelve month low of $14.90 and a twelve month high of $30.20. The firm has a market capitalization of $1,075.40, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 2.39 and a beta of 2.85. The company has a quick ratio of 1.90, a current ratio of 2.52 and a debt-to-equity ratio of 1.44.

Lannett (NYSE:LCI) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $153.62 million. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. sell-side analysts forecast that Lannett Company, Inc. will post 2.99 earnings per share for the current fiscal year.

Several research firms have issued reports on LCI. ValuEngine upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, November 10th. BMO Capital Markets increased their target price on shares of Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, November 13th. BidaskClub downgraded shares of Lannett from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank decreased their target price on shares of Lannett from $23.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $22.80.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its holdings in Lannett by 0.7% during the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after purchasing an additional 100 shares in the last quarter. CS Mckee LP raised its holdings in Lannett by 0.6% during the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after purchasing an additional 200 shares in the last quarter. Texas Permanent School Fund raised its holdings in Lannett by 1.0% during the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after purchasing an additional 203 shares in the last quarter. Rhumbline Advisers raised its holdings in Lannett by 0.4% during the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after purchasing an additional 244 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Lannett by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after purchasing an additional 297 shares in the last quarter. 97.27% of the stock is owned by hedge funds and other institutional investors.

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Lannett Company Profile

Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.

Insider Buying and Selling by Quarter for Lannett (NYSE:LCI)

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